Related-party service restriction expanded to cover persons rendering services directly or indirectly to company, holding or subsidiary. The amendment substitutes clause (i) of section 141(3) to include any person who, directly or indirectly, renders services referred to in section 144 to ... Summary
Related-party service restriction expanded to cover persons rendering services directly or indirectly to company, holding or subsidiary.
The amendment substitutes clause (i) of section 141(3) to include any person who, directly or indirectly, renders services referred to in section 144 to the company, its holding company or its subsidiary; the Explanation to section 144 governs the meaning of "directly or indirectly," thereby aligning the clause's scope with section 144 and extending coverage to service providers in holding and subsidiary relationships.
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